Semi-Annual Report 2015
Consolidated Income Statement
IFRS consolidated, not audited income statement (HUF million)
30 June 2015
30 June 2014
Change (%)
Interest and similar income
35,616
42,658
(16.51%)
- cash and cash equivalents
3,325
679
389.69%
- on placements with banks
209
68
207.35%
25,738
32,901
(21.77%)
5,603
8,002
(29.98%)
- on loans to non-banks - on securities - from leases
741
1,008
(26.49%)
15,635
20,837
(24.97%)
- on borrowings from banks
2,257
2,836
(20.42%)
- on deposits from non-banks
5,529
9,719
(43.11%)
- on debt securities issued
2,385
3,329
(28.36%)
- on subordinated liabilities
2,815
2,753
2.25%
Interest expenses and similar charges
2,649
2,200
20.41%
Net interest income
- other interest-like expenses
19,981
21,821
(8.43%)
Fee and commission income
19,964
20,121
(0.78%)
Fee and commission expense
3,395
3,845
(11.70%)
16,569
16,276
1.80%
5
59
(91.53%)
3,916
2,513
55.83%
728
3,699
(80.32%)
Net fee and commission income Dividend income Net trading income Net income from derivatives held for risk management Other operating income
1,896
6,750
(71.91%)
Operating income
6,545
13,021
(49.74%)
Impairment losses Hereof result of Settlement Act Salaries and staff benefits Rental expenses Equipment expenses
(8,935)
12,351
(172.34%)
(11,065)
0
-
11,129
12,405
(10.29%)
4,604
3,761
22.41%
2,360
2,687
(12.17%)
Other operating expenses
31,577
52,037
(39.32%)
Operating expenses
49,670
70,890
(29.93%)
0
0
-
2,360
(32,123)
(107.35%)
26
22
18.18%
Share of profits of associates Profit/(loss) before tax Income tax expense Deferred tax Profit/(loss) for the period
(3)
1,182
(100.25%)
2,337
(33,327)
(107.01%)
2,370
(29,630)
(108.00%)
(33)
(3,697)
(99.11%)
Attributable to: Equity holders of the parent Non controlling interest
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Consolidated statement of comprehensive income
IFRS consolidated, not audited statement of comprehensive income (HUF million) Profit / (loss) for the period
30 June 2015
30 June 2014
Change (%)
2,337
(33,327)
(107.01%)
0
356
(100.00%)
(33)
237
(113.92%)
Other comprehensive income/(loss) Change of financial assets measured at fair value through other comprehensive income: Change in fair value of available-for-sale financial assets Amount transferred to profit or loss Cash flow hedges: Effective portion of changes in fair value Income tax on other comprehensive income/(loss) Other comprehensive income/ (loss) for the period, net of income tax Total comprehensive income/(loss) for the period
595
383
55.35%
9
(115)
(107.83%)
571
861
(33.68%)
2,908
(32,466)
(108.96%)
2,941
(28,769)
(110.22%)
(33)
(3,697)
(99.11%)
Total comprehensive income/(loss) attributable to: Equity holders of the Bank Non-controlling interest
3
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Consolidated statement of financial position
IFRS consolidated, not audited statement of financial position (HUF million)
30 June 2015
31 December 2014
Change (%)
429,470
518,386
(17.15%)
57,819
31,531
83.37%
1,051,998
1,123,829
(6.39%)
185,189
191,742
(3.42%)
985
2,694
(63.44%)
127,665
125,678
1.58%
Assets Cash and cash equivalents Placements with banks Net loans Financial assets at fair value through profit or loss Available for sale securities Held to maturity securities Investments in associated undertakings
9
9
0.00%
25
31
(19.35%)
17,423
9,758
78.55%
0
192
(100.00%)
15,000
15,339
(2.21%)
2,090
1,048
99.43%
Current tax assets
35
142
(75.35%)
Deferred tax assets
0
0
-
39,691
57,165
(30.57%)
0
9,984
(100.00%)
1,927,399
2,087,528
(7.67%)
285,816
314,479
(9.11%)
Investments in unlisted securities Property, plant and equipment Investment property Intangible assets Goodwill
Other assets Assets classified as held for sale Total assets LIABILITIES AND EQUITY Deposits from banks Deposits from non-banks
1,197,872
1,324,951
(9.59%)
Debt securities issued
82,041
104,564
(21.54%)
Subordinated liabilities
60,395
104,694
(42.31%)
Financial liabilities at fair value through profit or loss
60,402
63,489
(4.86%)
Current tax liabilities
144
1
14,300.00%
Deferred tax liabilities
108
120
(10.00%)
Provisions
19,438
38,173
(49.08%)
Other liabilities
74,395
36,656
102.95%
Liabilities classified as held for sale Total liabilities Equity attributable to equity holders of the parent Ordinary shares Share capital
0
67
(100.00%)
1,780,611
1,987,194
(10.40%)
146,558
99,695
47.01%
50,000
50,000
0.00%
50,000
50,000
0.00%
Retained earnings
(193,535)
(196,214)
(1.37%)
Statutory reserves
293,094
249,481
17.48%
0
0
-
(3,001)
(3,572)
(15.99%)
230
639
(64.01%)
146,788
100,334
46.30%
1,927,399
2,087,528
(7,67%)
Non-distributable reserve Fair value reserve Non controlling interest Total equity Total liabilities, non controlling interest and shareholder’s equity
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Notes to the consolidated financial statements
Notes to the IFRS consolidated, not audited financial statements (1) General information Raiffeisen Bank Zrt. („the Bank”) commenced its operations in 1987 as a commercial bank domiciled in Hungary. The Bank’s registered office is 1054 Budapest, Akadémia Street 6. The Bank holds a full commercial banking license issued by the Hungarian Financial Supervisory Authority and carries on a wide range of financial activities. The consolidated financial statements of the Bank as at and for the year ended 30 June 2013 comprise the Bank and its subsidiaries (together referred to as the “Group”). The Bank is controlled by Raiffeisen-RBHU Holding GmbH. The ultimate parent of the Group is Raiffeisen-LandesbankenHolding GmbH.
(2) Basis of presentation The consolidated financial statements of the Group have been prepared in accordance with International Financial Reporting Standards (‘IFRSs’). IFRSs comprise accounting standards issued by the IASB and its predecessor body and interpretations issued by the International Financial Reporting Interpretations Committee (‘IFRIC’) and its predecessor body.
(3) Accounting policies The same accounting policies and methods of computation are followed by the Group in the interim financial statements as compared with the most recent annual financial statements.
(4) Events after the balance sheet date Agreement was reached concerning conversion of foreign currency consumer car loans and personal loans at August 19, 2015, legistlation of implementation will be issued separately.
5
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Group entities
Group entities Company
Residence of the Company
Ownership Ownership Ownership ratio ratio ratio 30/06/2015 31/12/2014 30/06/2014
Subsidiaries BUTÁR Gazdasági Szolgáltató Kft. DAV Holding Kft. *
2030 Érd, Budai út 22. 1012 Budapest, Vérmezô út 4.
100.00% -
100.00% a.)
100.00% 0.00%
DAV Management Kft. *
1012 Budapest, Vérmezô út 4.
-
a.)
0.00%
DAV-ESTATE Kft. *
1012 Budapest, Vérmezô út 4.
-
a.)
0.00%
DAV-LAND Kft. *
1012 Budapest, Vérmezô út 4.
-
a.)
0.00%
DAV-OUTLET Kft. * DAV-PROPERTY Kft. *
1012 Budapest, Vérmezô út 4. 1012 Budapest, Vérmezô út 4.
-
a.) a.)
0.00% 0.00%
100.00%
50.00%
50.00%
-
a.)
0.00%
EURO GREEN ENERGY Fejlesztô és Szolgáltató Kft. 1158 Budapest, Késmárk utca 11-13. Harmadik Vagyonkezelô Kft. *
1012 Budapest, Vérmezô út 4.
Ötödik Vagyonkezelô Kft. *
1012 Budapest, Vérmezô út 4.
-
a.)
0.00%
Raiffeisen Autó Lízing Kft.
1054 Budapest, Akadémia u. 6.
100.00%
50.00%
50.00%
Raiffeisen Befektetési Alapkezelô Zrt.
1054 Budapest, Akadémia u. 6.
100.00%
100.00%
100.00%
Raiffeisen Biztosításközvetítô Kft.
1054 Budapest, Akadémia u. 6.
100.00%
100.00%
100.00%
Raiffeisen Energiaszolgáltató Kft.
1158 Budapest, Késmárk utca 11-13.
100.00%
50.00%
50.00%
Raiffeisen Gazdasági Szolgáltató Zrt. Raiffeisen Ingatlan Alap *
1054 Budapest, Akadémia u. 6. 1054 Budapest, Akadémia u. 6.
100.00% -
100.00% a.)
100.00% 0.00%
Raiffeisen Ingatlan Üzemeltetô és Szolgáltató Kft.
1054 Budapest, Akadémia u. 6.
100.00%
100.00%
100.00%
Raiffeisen Ingatlan Vagyonkezelô Kft. * Raiffeisen Lízing Zrt.
1012 Budapest, Vérmezô út 4. 1054 Budapest, Akadémia u. 6.
50.00%
a.) 50.00%
0.00% 50.00%
Raiffeisen Corporate Lízing Zrt. 1054 Budapest, Akadémia u. 6. (until 28/05/2015 Raiffeisen Property Lízing Zrt.)
100.00%
100.00%
100.00%
RB Kereskedôház Kereskedelmi Kft. RB Szolgáltató Központ Kft.
1054 Budapest, Akadémia u. 6. 4400 Nyíregyháza, Sóstói út 31/b
100.00% 100.00%
100.00% 100.00%
100.00% 100.00%
SCT Beruházás Ingatlanfejlesztô és Ingatlanhasznosító Kft.
1012 Budapest, Vérmezô út 4.
100.00%
90.33%
90.33%
SCT Kárász utca Ingatlankezelô Kft.
1054 Budapest, Akadémia u. 6.
100.00%
100.00%
100.00%
SCT Tündérkert Kft. SCTAI Angol iskola Ingatlanfejlesztô és Ingatlanhasznosító Kft.
1054 Budapest, Akadémia u. 6. 1012 Budapest, Vérmezô út 4.
100.00% 100.00%
100.00% 90.33%
100.00% 90.33%
SCTB Ingatlanfejlesztô és Ingatlanhasznosító Kft. 1054 Budapest, Akadémia u. 6.
100.00%
100.00%
100.00%
SCTJ Ingatlanfejlesztô és Ingatlanhasznosító Kft. * 1012 Budapest, Vérmezô út 4. SCTS Ingatlanfejlesztô és Ingatlanhasznosító Kft.
1012 Budapest, Vérmezô út 4.
-
a.)
0.00%
100.00%
100.00%
100.00%
SZELET Energiatermelô és Szolgáltató Kft.
1158 Budapest, Késmárk utca 11-13.
-
b.)
50.00%
VINAGRIUM Borászati és Kereskedelmi Kft.
3300 Eger, Verôszala u. 1-3.
-
b.)
100.00%
a.) Loss of control according to IFRS 10 b.) SZELET Energiatermelô és Szolgáltató Kft. and VINAGRIUM Borászati és Kereskedelmi Kft. were sold. * New group members consolidated according to IFRS 10 as of 30/06/2014 Company
Residence of the Company
Ownership Ownership Ownership ratio ratio ratio 30/06/2015 31/12/2014 30/06/2014
Associates NOC Kft.
1054 Budapest, Kálmán Imre u. 1.
SCTF Szentendre Kft. *
1012 Budapest, Vérmezô út 4.
b.)
50.00%
50.00%
-
a.)
0.00%
a.) Loss of control according to IFRS 10 b.) NOC Kft. were sold. * New group member consolidated according to IFRS 10 as of 30/06/2014 This publication is only an extract of the full Semi-Annual Report 2015 which could be downloaded from www.raiffeisen.hu. www.raiffeisen.hu
Raiffeisen Bank Zrt. • H-1054 Budapest, Akadémia u. 6. • Postal address: Budapest 1700 Telef on: ( 36-1) 4 8 4 -4 4 0 0 • F a x: (3 6 -1 ) 4 8 4 -4 4 4 4 • I n te r n e t: w w w. ra i ffe i se n . h u • E - ma i l: i n fo @ra i ffe i sen.h u F ô v á r o s i B í r ó s á g m i n t C é g b í r ó s á g • C é g j e g y z é k s z á m : 0 1 - 1 0 - 0 4 1 0 4 2 M E M B E R
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